Progress Software Wins European Award for Excellence in Trading and Technology

LONDON--(Marketwire - October 11, 2010) - Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, today announced that its Progress® Apama® Smart Order Routing Accelerator solution won Best Smart Order Router at this year's Financial News Awards.

The prestigious awards, held at the City of London's Plaisterers' Hall, recognizes excellence in trading and technology products in the financial industry, taking into consideration a broad range of criteria. The event was attended by the great and the good of the technology industry.

The winning solution, Progress Apama SOR Accelerator, enables businesses to create unique, proprietary order routing strategies that intelligently select from among many execution venues. It provides both the competitive power of differentiated execution strategies, as well as the foundation to comply with regulatory demands for best execution. It's designed to empower the trader further by offering customer-selectable integration adapters, configurable order routing logic and graphically rich monitoring dashboards.

Dr. Giles Nelson, Deputy CTO, Progress Software, commented on the win: "Such industry recognition validates our continued commitment to deliver software that excels at responding to the business challenges of these fast-moving, ever-changing financial markets. We're delighted to receive this acknowledgement of our efforts. It is a true testimony to the talent, commitment and knowledge of our engineering team."

About Progress Software Corporation

Progress Software Corporation (NASDAQ: PRGS) is a global software company that enables enterprises to be operationally responsive to changing conditions and customer interactions as they occur -- to capitalize on new opportunities, drive greater efficiencies and reduce risk. The company offers a comprehensive portfolio of best-in-class infrastructure software spanning event-driven visibility and real-time response, open integration, data access and integration, and application development and deployment -- all supporting on-premises and SaaS/Cloud deployments. Progress maximizes the benefits of operational responsiveness while minimizing IT complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000.

Progress and Apama are trademarks or registered trademarks of Progress Software Corporation or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.